Published: May, 2018
Transparency Market Research states that the competition in the global phytosterols market is quite consolidated. Archer Daniels Midlands Co., BASF SE, and Raisio plc are the leading players in the global market, dictating the nature of the competition. The research report states that the companies are focused on product innovation and differentiation to stay ahead of the competition. In the coming years, companies are expected to tap into the lucrative opportunities being provided by the food and beverages market.
According to Transparency Market Research, the global phytosterols market is expected to be worth US$926.7 mn by the end of 2021. During the forecast period of 2015 to 2021, the global market is expected to exhibit a CAGR of 10%. In terms of geography, Europe phytosterols market is expected to dominate the global market. The growth of this regional market can be attributed to the growing awareness about the benefits of using phytosterols. In the coming years, the demand for phytosterols is expected to remain high in the food and beverages industry as phytosterols-rich food has gained popularity for having cholesterol-lowering properties.
Fight against Obesity Draws Attention to Consumption of Phytosterols
The research report states that the high incidence of cardiovascular diseases has made the global population think twice about their dietary habits. The change in thought has been the primary driver for the growing attention to the benefits of phytosterols. Phytosterols are an important molecule derived from plants. The biggest advantage is their cholesterol-reducing ability. Owing to this very reason they are extensively being used in pharmaceutical and food and beverages industry. Several food and beverages vendors are adding phytosterols to their products to suit the needs of health-conscious consumers.
The increasing awareness amongst consumers about the risk of diseases due to high or uncontrolled cholesterol is expected to play a crucial role in spiking the demand for phytosterols in the coming years. In the developed regions of the world the growing epidemic of obesity is expected to create numerous cardiac patients. With this trend, analysts expect the demand for phytosterols will rise. Phytosterols are known to act as blockades, which means they avert the absorption of cholesterols in the blood stream.
On the other hand, developing nations such as China and India noted to show a high demand for phytosterols as the countries aim to achieve a better heart health for their citizens. In addition to the pharmaceutical and the food and beverages industry, the cosmetics industry is also expected to be an important user of phytosterols.
Lack of Resources and Awareness Could be Biggest Challenge for Global Phytosterols Market
On the flip side, the global phytosterols market faces some tough challenges. For instance, the lack of awareness about this helpful molecule in the developing and rural parts of the world is expected to be the greatest challenge for the market. It is a well-known fact that phytosterols are found in nuts, beans, and vegetable oils, which remain beyond the purchasing power of many in developing parts of the world. Thus, these factors could be a serious challenge to the global market in the coming years.
This review is based on Transparency Market Research’s report, titled “Phytosterols Market (Product Type - B-sitosterol, Campesterol, and Stigmasterol; Application Type - Food Ingredients, Pharmaceuticals, and Cosmetics) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021”.
The report segments the global phytosterols market as:
Global Phytosterols Market, by Product Type
Global Phytosterols Market, by Application Type
- Food Ingredients
Global Phytosterols Market, by Geography/Country
- North America
- Asia Pacific
- Rest of the World (RoW)
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